Large Cap

  • September 22, 2025

    Spirit Airlines To Furlough 1,800 Workers Amid Ch. 11

    Bankrupt budget air carrier Spirit Airlines will furlough one-third of its flight attendants in the coming months as it aims to cut costs in its bankruptcy, Spirit confirmed Monday.

  • September 22, 2025

    Ligado OK'd For $7.8B Debt-For-Equity Swap Ch. 11 Plan

    A Delaware bankruptcy judge Monday agreed to approve telecommunications group Ligado Networks' debt-for-equity swap Chapter 11 plan, overruling the U.S. Trustee's objection over the plan potentially not taking effect for three years.

  • September 22, 2025

    Judge Says He's Ready To OK Avon's Ch. 11 Plan

    A Delaware bankruptcy judge Monday said he was prepared to accept a revised proposed Chapter 11 plan for cosmetics giant Avon with a few more changes, largely rejecting new wording proposed by objecting insurers.

  • September 22, 2025

    Feds Oppose Chinese Exile Guo's Bid To Take Ch. 11 Assets

    Federal prosecutors in the Southern District of New York have opposed convicted securities fraudster and bankrupt Chinese exile Miles Guo's bid to force the government to take control of assets from his own Connecticut-based Chapter 11 trustee to satisfy a $1.3 billion criminal forfeiture order.

  • September 22, 2025

    Puerto Rico Finance Board Members Sue Trump Over Firings

    Three former members of the Financial Oversight and Management Board for Puerto Rico have sued the Trump administration alleging they were illegally fired without cause last month, asking a judge to block the "unlawful and unconstitutional" action.

  • September 22, 2025

    Rite Aid Can Seek Plan Votes, Purdue CEO Bonus Approved

    A New Jersey bankruptcy judge gave Rite Aid the go-ahead to solicit Chapter 11 plan votes. A New York bankruptcy judge gave permission for Purdue Pharma to offer its chief executive a nearly $3 million incentive package. And a Delaware judge approved fiber network developer Tilson Technology Management Inc.'s asset sale to ITG Communications LLC.

  • September 22, 2025

    Girardi Loses Bid To Avoid Prison During Appeal

    Disgraced attorney Tom Girardi will have to wait in prison while he appeals his wire fraud conviction for stealing from his own clients, a California federal judge has ruled.

  • September 22, 2025

    CVS's Omnicare Hits Ch. 11 After $949M FCA Judgment

    Omnicare LLC, CVS Health's subsidiary that provides pharmacy services for long-term care facilities, filed for Chapter 11 bankruptcy relief Monday in Texas following a $949 million judgment against Omnicare and CVS issued by a New York federal judge earlier this year.

  • September 22, 2025

    Crime-Fraud Exemption Applies To Eletson Docs, Judge Says

    Reed Smith LLP has until the end of the day on Monday to turn over a dozen client files related to its prior representation of shipping company Eletson Holdings amid a dispute with rival Levona, after a Manhattan federal judge found probable cause that a fraud was committed in an underlying arbitration.

  • September 19, 2025

    Big Lots Creditors Reach Deal On Exec Claims

    Retail chain Big Lots and its unsecured creditors committee have asked the Delaware bankruptcy court to approve a $6.5 million settlement of claims alleging the company's board bungled a going-concern sale last year, in addition to other breaches of fiduciary duty. 

  • September 19, 2025

    Bankruptcy Firm Fined, Banned For 3 Years Over Disclosures

    A Michigan bankruptcy judge has hit Recovery Law Group, a national consumer bankruptcy law firm, with a fine of about $392,000 and a three-year ban on bringing insolvency cases in the Eastern District of Michigan, finding it violated fee disclosure requirements in 220 cases.

  • September 19, 2025

    FTX Trust Says Bankruptcy Laws Apply To Binance Founder

    The recovery trust created by the Chapter 11 plan of cryptocurrency exchange FTX told a Delaware judge late Thursday that the bankruptcy court has jurisdiction over Binance and its founder in a $1.76 billion clawback suit, and that bankruptcy laws apply to entities outside the United States.

  • September 19, 2025

    Calif. Cheesemaker Can Get Ch. 11 Financing From Owners

    A California bankruptcy judge gave Rizo-Lopez Foods initial permission Friday to draw on Chapter 11 financing provided by brothers who own the business, allowing its cheesemaking operations to continue as the company deals with the fallout from a contaminated cheese recall last year.

  • September 19, 2025

    Co. Tied To Lehman Ex-Restructuring Chief Faces Loan Suit

    A holding company linked to Lehman Brothers' post-2008 era restructuring professional defaulted on a commercial loan secured by a large office building and now owes a reinsurer about $19.5 million, according to a lawsuit brought in North Carolina's business court.

  • September 19, 2025

    What's Happening In Bankruptcy Court This Coming Week

    Desktop Metal, Ligado Networks and Bar Louie are seeking authorization of their Chapter 11 plans; Party City will ask for permission to use cash collateral in its bankruptcy case; and bowling chain Pinstripes will request approval of bidding procedures for an asset sale. These are some of the noteworthy hearings scheduled for next week.

  • September 19, 2025

    MMA Law Inks Deals With Firms, Insurance Group

    A Texas bankruptcy judge has signed off on a series of settlements worth $2.6 million to resolve claims brought by bankrupt MMA Law that other law firms and parties were holding back money it was owed for representing Louisiana hurricane victims.

  • September 19, 2025

    Polsinelli Adds ArentFox Schiff Bankruptcy Pro In NY

    Polsinelli PC has expanded its bankruptcy team in New York with the addition of an attorney from ArentFox Schiff LLP.

  • September 19, 2025

    Rite Aid Gets OK To Seek Votes On Dual-Track Ch. 11 Plan

    A New Jersey bankruptcy judge on Friday approved drugstore chain Rite Aid's bid to take votes on a Chapter 11 plan as the debtor weighs whether to complete a deal with McKesson Corp. or formally seek to dismiss its bankruptcy case.

  • September 18, 2025

    Prospect Medical Says It May Drop Stay On Tort Cases

    Counsel for Prospect Medical Holdings on Thursday told a Texas bankruptcy judge that talks to establish a procedure for handling tort claims in the hospital operator's Chapter 11 case have deadlocked, and it's prepared to let hundreds of tort claimants go back to the courthouse.

  • September 18, 2025

    Firms Look To Drop Shareholder Client Sapien In Linqto Ch. 11

    Lawyers for Sapien Group, a shareholder that has taken an active role in investment platform Linqto's Chapter 11 in Texas, have asked to withdraw from the case — saying their client has not paid outstanding legal bills.

  • September 18, 2025

    Natixis Seeks Privacy Monitor For Madoff Document Handover

    French investment manager Natixis wants a court-ordered international privacy monitor to oversee its transfer of discovery materials to the trustee administering the bankruptcy estate of Bernard Madoff in the trustee's $214 million clawback lawsuit against it.

  • September 18, 2025

    Office Snapshot: Morris James Enters New Era With HQ Move

    Delaware firm Morris James LLP on Thursday celebrated its move to a new headquarters in a 12-story building in north Wilmington, a relocation that firm leaders said is aimed at best meeting attorney and client needs and practicing law in a modernized setting.

  • September 18, 2025

    Insurance Litigation Week In Review

    A Delaware state court found that Frontier Communications was entitled to a defense against copyright infringement claims, a split Ninth Circuit panel backed certification denial for a proposed class of Progressive policyholders, and the Second Circuit heard arguments in a firearms retailer's bid for coverage of ghost gun suits. Here, Law360 takes a look at the past week's top insurance news.

  • September 18, 2025

    Meet The Attys For Subprime Lender Tricolor, Ch. 7 Trustee

    Tricolor Holdings, a company that provides car loans to low-income buyers, has tapped a lawyer from Sidley Austin LLP for its bankruptcy and the Chapter 7 trustee has assembled a team from McDermott Will & Schulte LLP as the debtor liquidates under pressure from more than $1 billion in debt.

  • September 18, 2025

    Bonds Valid Under Venezuelan Law, Judge Rules In $2B Case

    A New York federal judge on Thursday denied a bid by Venezuela's state-owned oil company to refuse enforcement of some $2 billion in defaulted bonds, finding after an "exhaustive review of Venezuelan law" that the bonds were validly issued.

Expert Analysis

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • Ch. 11 Ruling Shows Early Attempt To Tackle Purdue Fallout

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    A Delaware bankruptcy court’s recent ruling in Parlement Technologies’ Chapter 11 case, which denied a bid by Parler’s former owner to extend its bankruptcy stay to nondebtors, illustrates early efforts to grapple with the U.S. Supreme Court's decision in Purdue Pharma for a recurring bankruptcy issue, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • How Cos. Can Leverage IP In Corporate Bankruptcy

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    In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.

  • Avoiding Retail Bankruptcy As Economic Uncertainty Persists

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    Amid record retail bankruptcies and continued economic uncertainty in 2024, retailers can take specific steps like building stronger cash-flow models, managing inventory wisely and reassessing cost structures to avoid financial distress, say consultants at BRG.

  • Banking Compliance Takeaways From Joint Agency Statement

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    Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.

  • Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • Chapter 11 Ruling Signals Emphasis On Lockup Provisions

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    A New York bankruptcy court's recent ruling in GOL Linhas Aéreas Inteligentes’ Chapter 11 case provides creditors with a strong basis for resisting requests to lock up or otherwise limit their voting rights, say Dania Slim and Andrew Alfano at Pillsbury.

  • Vendor Rights Lessons From 2 Chapter 11 Cases

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    A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

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